§ 283z-1. — Increase in authorized capital stock of Bank and increase in resources of Fund for Special Operations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC283z-1]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XII--INTER-AMERICAN DEVELOPMENT BANK
Sec. 283z-1. Increase in authorized capital stock of Bank and
increase in resources of Fund for Special Operations
(a) United States share
The United States Governor of the Bank is authorized to vote for two
resolutions which were proposed by the Governors at a special meeting in
December 1978 and are pending before the Board of Governors of the Bank.
These resolutions provide for (1) an increase in the authorized capital
stock of the Bank and additional subscriptions thereto, and (2) an
increase in the resources of the Fund for Special Operations and
contributions thereto. Upon adoption of these resolutions, the United
States Governor is authorized on behalf of the United States (A) to
subscribe to two hundred twenty-seven thousand eight hundred and ninety-
six shares of the increase in the authorized capital stock of the Bank,
of which two hundred ten thousand eight hundred and four shall be
callable and seventeen thousand and ninety-two shall be paid-in, and (B)
to contribute to the Fund for Special Operations $630,000,000; except
that any commitment to make such subscriptions to paid-in and callable
capital stock and to make such contributions to the Fund for Special
Operations shall be effective only to such extent or in such amounts as
are provided in advance in appropriation Acts.
(b) Authorization of appropriations
In order to pay for the increase in the United States subscription
and contribution provided for in this section, there are authorized to
be appropriated, without fiscal year limitation, for payment by the
Secretary of the Treasury (1) $2,474,287,189 for the United States
subscription to the capital stock of the Bank, and (2) $630,000,000 for
the United States share of the increase in the resources of the Fund for
Special Operations: Provided, however, That for contributions to the
Fund for Special Operations, not more than $175,000,000 may be made
available for the fiscal year 1982, and not more than $105,000,000 may
be made available for the fiscal year 1983.
(c) Funding requirements
For the purpose of keeping to a minimum the cost to the United
States, the Secretary of the Treasury--
(1) shall pay the United States contribution to the Fund for
Special Operations authorized by this section by letter of credit in
four annual installments; and
(2) shall take the steps necessary to obtain a certification
from the Bank that any undisbursed balances resulting from drawdowns
on such letter of credit will not exceed at any time the United
States share of expected disbursement requirements for the following
three-month period.
(d) Limitation of funds to members of Bank
None of the funds authorized to be appropriated by this section may
be used for any form of assistance to any country which is not a member
of the Bank.
(Pub. L. 86-147, Sec. 29, as added Pub. L. 96-259, title I, Sec. 101(2),
June 3, 1980, 94 Stat. 429; amended Pub. L. 97-35, title XIII,
Sec. 1351(b), Aug. 13, 1981, 95 Stat. 744.)
Amendments
1981--Subsec. (b). Pub. L. 97-35 inserted provision limiting amount
of appropriations available for Fund for Special Operations for fiscal
years 1982 and 1983.
Effective Date of 1981 Amendment
Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that any
funds authorized to be appropriated shall not be available for use or
obligation prior to Oct. 1, 1981, see section 1372 of Pub. L. 97-35, set
out as an Effective Date note under section 290i of this title.
Section Referred to in Other Sections
This section is referred to in section 283z-2 of this title.
